Carnegie Capital Asset Management LLC trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 1.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 131,021 shares of the company’s stock after selling 1,734 shares during the period. Carnegie Capital Asset Management LLC’s holdings in PepsiCo were worth $19,409,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Mutual Advisors LLC boosted its holdings in shares of PepsiCo by 12.5% during the 4th quarter. Mutual Advisors LLC now owns 9,203 shares of the company’s stock valued at $1,599,000 after buying an additional 1,022 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in PepsiCo in the 4th quarter worth approximately $311,000. HBK Investments L P purchased a new stake in PepsiCo in the 4th quarter worth approximately $1,958,000. Unigestion Holding SA purchased a new stake in PepsiCo in the 4th quarter worth approximately $2,202,000. Finally, Banco de Sabadell S.A increased its holdings in PepsiCo by 16.6% in the 4th quarter. Banco de Sabadell S.A now owns 11,179 shares of the company’s stock worth $1,946,000 after acquiring an additional 1,588 shares in the last quarter. 71.38% of the stock is currently owned by institutional investors.
PepsiCo Stock Up 0.1 %
NASDAQ PEP opened at $168.60 on Friday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.64 and a current ratio of 0.83. The company has a market capitalization of $232.65 billion, a P/E ratio of 25.39, a P/E/G ratio of 3.30 and a beta of 0.55. PepsiCo, Inc. has a one year low of $149.48 and a one year high of $181.07. The stock has a 50 day moving average price of $173.32 and a 200-day moving average price of $170.45.
PepsiCo Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 2nd will be given a $1.15 dividend. The ex-dividend date is Thursday, September 1st. This represents a $4.60 dividend on an annualized basis and a yield of 2.73%. PepsiCo’s dividend payout ratio is presently 69.28%.
Insider Buying and Selling
In related news, CEO Ramkumar Krishnan sold 3,433 shares of the firm’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $174.83, for a total value of $600,191.39. Following the completion of the sale, the chief executive officer now directly owns 50,577 shares in the company, valued at $8,842,376.91. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other PepsiCo news, CEO Steven C. Williams sold 1,753 shares of the stock in a transaction on Friday, July 15th. The stock was sold at an average price of $171.18, for a total value of $300,078.54. Following the sale, the chief executive officer now owns 70,892 shares in the company, valued at $12,135,292.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Ramkumar Krishnan sold 3,433 shares of the stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $174.83, for a total value of $600,191.39. Following the completion of the sale, the chief executive officer now owns 50,577 shares in the company, valued at approximately $8,842,376.91. The disclosure for this sale can be found here. 0.12% of the stock is owned by corporate insiders.
Analyst Ratings Changes
PEP has been the subject of several analyst reports. Credit Suisse Group increased their target price on shares of PepsiCo from $168.00 to $170.00 and gave the stock a “neutral” rating in a report on Wednesday, July 13th. Barclays cut their price objective on shares of PepsiCo from $187.00 to $183.00 and set an “overweight” rating for the company in a report on Wednesday, July 6th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of PepsiCo from $175.00 to $178.00 and gave the company a “hold” rating in a report on Thursday, July 7th. Wells Fargo & Company cut their price objective on shares of PepsiCo from $175.00 to $172.00 and set an “equal weight” rating for the company in a report on Tuesday, June 21st. Finally, UBS Group cut their price objective on shares of PepsiCo from $190.00 to $182.00 and set a “buy” rating for the company in a report on Tuesday, June 21st. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $182.00.
PepsiCo, Inc manufactures, markets, distributes, and sells various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.
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